Jelf, an independent full service UK based brokerage that supports businesses and individuals, announces its interim results.

Financial highlights 

Strong financial performance continues:

• Revenues 11.0% ahead of last year at £43.7m (2014: £39.3m)
• EBITDAE pre-share costs increased by 24.6% to £8.1m (2014: £6.5m)
• EBITDAE margin pre-share costs increased by 12.3% to 18.5% (2014: 16.4%)
• Fully diluted Earnings per Share increased by 12.8% to 1.67p (2014: 1.48p)
• Interim maiden dividend of 0.8p

The business continues to be cash generative and £2.5m of debt has been repaid early:

• Net debt is £27.6m (excluding deferred consideration net debt is £15.2m) compared to net debt of £13.1m (excluding deferred consideration net debt is £8.9m) at 31 March 2014 reflecting the acquisition of The Beaumonts Insurance Group in December 2014.

Operating highlights

• Organic growth achieved of 4.2% (excluding the impact of acquisitions)
• The Insurance business EBITDAE has increased by 18.2% to £5.3m (2014: £4.4m)
• Employee Benefits EBITDAE has increased by 27.2% to £1.7m (2014: £1.4m)
• Financial Planning EBITDAE has increased by 167% to £299k (2014: £112k)
• Margins continue to improve whilst at the same time investment continues to be made in both sales capability and infrastructure
• Jelf Insurance Partnership delivered £5.2m of revenues (2014: £4.7m) and £762k of EBITDAE (2014: £550k). It is on track with expectations and capturing the expected synergies of the acquisition
• The Beaumonts Insurance Group, acquired in December 2014, is trading strongly and capturing the acquisition synergies ahead of expectations
• Awarded Investor in Customers highest ‘3 Star’ accolade for client service for the third year running

Commenting on the results Alex Alway, Group Chief Executive, said, “I am pleased that all our businesses are trading strongly and outperforming last year and we expect to continue this trend in the second half of the year. Our acquisitions are integrating well into the Jelf business and delivering positive benefits.”

Pacific Prime is proud to announce that, for the third year in a row, Bupa Global has awarded Pacific Prime with top honors. This year, the company was presented with the Individual Sales Top Producer 2014 award. Of the 5,000+ agents worldwide, Pacific Prime was selected for this prestigious achievement which was presented by Bupa Global’s Managing Director Robert Lang, at the annual ceremony held in Las Vegas, Nevada.

Upon receiving the award, Neil Raymond, MD at Pacific Prime, commented, “As a company, we have had a strong and successful relationship with Bupa Global. Throughout our long partnership, we have found that Bupa Global has been working hard to continually improve customer service and plans. This strong commitment to both our clients and the industry means that they are always an insurer we consider when helping our clients find the best coverage available.”

For more than 11 years, Pacific Prime has worked with Bupa Global, and has since been named both its top global distributor and individual sales top producer. This is a reflection of the continued development of the relationship between Bupa Global and Pacific Prime.

Rainbow Pan, General Manager, Bupa Global Greater China commented “Pacific Prime are hugely deserving winners of the Bupa Global Individual Sales Top Producer 2014 award. Their team has delivered excellent service for their customers in individual plans as well as group policies. Bupa Global is proud to call them partners and we’re delighted to name them one of our top producers for a third successive year”.

On 2015 and the future, Raymond commented, “We are increasingly on the lookout for insurers we can trust. Despite the seemingly shrinking market - since 2013 several international insurers have pulled out of the market - there are a number of quality providers out there like Bupa Global who have not only strong portfolios but also plans customers can rely on. We are keen to see what the coming year brings for both companies and competing for their top individual distributor award next year!”

Welcome To The 1st Issue Of iPMI Magazines Medical Health Travel and Expatriate Insurance Broker And Intermediary Report, iPOLICY.

Rounding up the last quarter's most important International Medical and Health Insurance Plan and Product News, iPOLICY is the essential digital report designed specifically for International Health Insurance Brokers and Intermediaries.

Read iPolicy by iPMIM now, click here.

Welcome To The 2nd Issue Of iPMI Magazines Medical Insurance Broker And Intermediary Report, iPOLICY.

Rounding up the last quarter's most important International Medical and Health Insurance Plan and Product News, iPOLICY is the essential digital report designed specifically for International Health Insurance Brokers and Intermediaries.

Read iPolicy Issue 2 by iPMIM now, click here.

Welcome To The 3rd Issue Of iPMI Magazines Medical Insurance Broker And Intermediary Report, iPOLICY.

Rounding up the last quarter's most important International Medical and Health Insurance Plan and Product News, iPOLICY is the essential digital report designed specifically for International Health Insurance Brokers and Intermediaries.

Read iPolicy Issue 3 by iPMIM now, click here.

For more International Private Medical Insurance Magazine medical insurance, health insurance, medical assistance, expatriate healthcare insurance and risk-protection news go to ipmimagazine.com

Cigna TTK Health Insurance a joint venture between U.S. based global health service leader, Cigna Corporation (NYSE:CI), and Indian conglomerate TTK Group, today announced the launch of  its second, Lifestyle Protection product- Accident Care.

Accident Care is available to retail customers in three options- Basic, Enhanced and Comprehensive with a sum insured ranging from Rs. 50,000 to Rs. 10 crore.

Speaking on the launch, Sandeep Patel, CEO and Managing Director, Cigna TTK Health Insurance Company Limited said “It is imperative to be prepared for adversity arising due to uncertainties in today’s evolving world. It is our aim to work together with our customers, to understand their unique needs and deliver on those needs.  Lifestyle protection products from Cigna TTK are designed to assure financial support through life’s ups and downs. It’s our endeavor to keep the products simple, convenient and comprehensive. Accident Care is uniquely designed to offer benefits and value for money, to our customers.”

Earlier, Cigna TTK also launched Critical Care, as a part of Lifestyle Protection product suite. This policy is available in two variants – Basic Plan and Enhanced Plan. 15 basic critical illnesses will be covered under basic plan and 30 under the enhanced plan. Cigna TTK – Critical Care offers a sum insurance ranging from 1 Lac to 25 crores. The minimum age to take this policy is 18 and the maximum age is 65 with a lifetime renewal facility. It is topped with a unique facility that allows our customers access to Cigna’s Global Network across 80 Countries and over 10,00,000 network hospitals at network rates to avail treatment for the diagnosed Critical Illness.

Talking about Critical Care, Mr. Patel said, “With growing sedentary lifestyles, changing environmental factors and high stress levels in the country, lifestyle diseases are becoming more and more prevalent.  Critical Care is designed to cater to the growing concerns of lifestyle diseases and the high medical costs associated with them. The product is also designed to complement indemnity medical products.”

“We intend to offer a comprehensive health insurance portfolio to all our customers. Both Accident Care and Critical Care are fixed benefit products which strengthens Cigna TTK’s suite of health insurance products offered in the market.” he added.

All Cigna TTK products offer immediate access to Cigna TTK’s online wellness program- ProActiv Living, to all policy holders, offering customers Health Risk Assessment, Targeted Risk Assessment and Lifestyle Management Programs to improve their lifestyle.

In addition, the policy holder is also entitled for tax benefit under section 80D as per Income Tax act.

WellAway, Ltd. has announced today that it has received accreditation from the United States government to distribute its expat plans as compliant under the requirements of Affordable Care Act (Obamacare). WellAway Limited is the only provider of international expat products to enjoy this approval.

By purchasing one of WellAway’s ACA-Compliant policies, Foreign individuals and employer groups will not be subject to the penalties or taxes that apply to any person admitted to the United States for a period of more than eleven months. Starting in 2015, employers may face further taxation or penalties if they do not offer ACA-compliant insurance coverage to their expat employees in the United States. WellAway has further emphasized its advocacy for expatriates coming to the USA by offering a variety of support tools and resources that help foreign nationals navigate the US healthcare system and Obamacare.

These include assigning personal ConciergeCare Counselors to help each member understand how their benefits work in the USA. ConciergeCare services assist members in finding the best-rated in-network providers, making appointments, dealing with medical bills and understanding any cost-shares. Member services are available 24/7 in the member’s native language. The company is also providing a variety of digital guides that will inform members of the differences between healthcare in the USA and in their country of origin.

“We are very excited to receive this approval and comply with the new USA requirements for insurance. This allows our members to keep a product that is international and specifically designed to the needs of expats, while meeting the new guidelines and not paying unnecessary taxes and penalties. It has taken a lot of work and effort for WellAway and its underwriters to design these products and really understand the USA mandates,” stated Griselle Chernys, spokesperson for the company.

”We are happy to offer these products to any foreign nationals entering the United States and our brokers and distributors have welcomed meeting the demands of their clients. Until now, there were no ACA-compliant options available to expats and brokers have often found themselves unable to meet a growing demand. Our product is different because it encompasses a very complete service to the expat via our unique program design.” added Chernys.

Individuals or families interested in a WellAway Limited Obamacare compliant plan, may visit WellAway at www.wellaway.com to see all plan options available. Plans are also available via our international insurance brokers in different countries around the world. Interested parties are encouraged to seek a referral to one of our brokers by contacting our sales representatives at the numbers listed on our website.

About WellAway, Ltd

WellAway, Ltd. is a company domiciled in Hamilton, Bermuda with global offices in France and Belgium. The company specializes in unique health and travel insurance health programs for foreign nationals living throughout the world. 

Willis Group Holdings plc, has appointed Huichih Ko as Chairman of Willis Asia. Mr. Ko will play a leading role in defining Willis Asia's strategic direction and driving client engagement and growth across the region. He starts his new role today and will initially be based in the Singapore HQ of Willis Asia, which employs around 890 associates in 36 offices.

He joins from Marsh & McLennan Companies (MMC), where he served as MMC Country Corporate Officer for Taiwan. He has over 30 years' industry experience and has held a number of senior posts at Marsh, including Deputy Chairman, Greater China Region; and Managing Director and Chairman, Marsh Taiwan.

Tim Wright, CEO of Willis International, said, "Willis is going from strength to strength in Asia, and the addition of such a senior talent will be a further boost to our capabilities and ambitions. Huichih is a very experienced and respected industry leader who is well known across the region. He will play a vital role in growing and connecting our business both in Asia and globally."

Adam Garrard, CEO of Willis Asia, said, "I have known Huichih for many years and he has worked with an impressive and diverse range of clients. We are delighted to have attracted Huichih to Willis and his appointment is a visible endorsement of our values and strategy. Huichih will partner with me and the rest of the Willis Asia team to assist us in driving the strategy and growth plans in the region. I can think of no one more qualified for this role. He is one of the best insurance practitioners in Asia."

Huichih Ko said, "I am deeply impressed by Willis's vision and commitment to invest across Asia in order to tap into some exciting, high-potential markets. I'm pleased to have the opportunity to work with the many talents in Willis to develop innovative solutions for clients and markets. Asian insurance markets have come a long way - many are mature and ready to diversify their books - and I look forward to helping our global clients explore that new capacity."

Ko started his insurance brokerage career in New York with Fred S James in 1981. He was assigned to Taiwan in 1983 and subsequently became President of James International Taiwan. Between 1987 and 1998 he served as CEO of Sedgwick Taiwan. Following the acquisition of Sedgwick by Marsh, Ko was appointed as Regional Director North Asia, Marsh Resolution.

In 2000 he became Managing Director and chairman of Marsh Taiwan and in 2010 he was promoted to Deputy Chairman, Marsh Greater China Region.

In 2013 he was appointed as MMC Country Corporate Officer for Taiwan. Ko holds a bachelor's degree in Shipping Management and a Master of Science in Transportation.

He has also taught marine insurance and shipping management courses in universities in Taiwan.

Aon Benfield launches the latest edition of its Aon Benfield Aggregate (ABA) report, which analyzes the financial results of the world's leading reinsurers in the first half of 2014.

Aon Benfield Analytics estimates that global reinsurer capital reached a record level of USD570 billion at June 30, 2014, an increase of 6% (USD30 billion) relative to December 31, 2013.

This calculation is a broad measure of capital available for insurers to trade risk with and includes both traditional and non-traditional forms of reinsurance capital. The firm's latest study found that capital reported by the ABA group of 31 leading reinsurers increased by 4% (USD14 billion) to USD351 billion (62% of global reinsurer capital), driven primarily by USD18.6 billion of net income and USD9.4 billion of unrealized capital gains. The main offset was USD14.3 billion of dividends and share buybacks.

Further key findings relating to the 29 publicly-listed holding companies in the ABA* include:

• Gross property and casualty (P&C) premiums rose by 4% to USD109 billion, with growth split evenly between insurance and reinsurance business.
• The combined ratio rose by 0.4 percentage points to 90.3%, with P&C underwriting profit unchanged at USD7.9 billion.
• Catastrophe losses declined relative to the prior year and were well below the long-term average.
• Support from the favorable development of prior year reserves declined by 5% to USD2.8 billion.
• Return on equity stood at 12.2% in the first half of 2014, the highest level since 2009.
• Net catastrophe exposures are reducing as risk transfer to the capital markets increases via sidecars, insurance-linked securities and more cost effective retrocession cover.

Mike Van Slooten, Head of Aon Benfield's International Market Analysis team, said, "The influx of alternative capital is lowering risk transfer costs for both insurers and reinsurers, creating a win-win situation that should drive market expansion in the medium-term. Aon Benfield has made major advances in its analysis of reinsurers' financial performance in recent years, in response to growing insurer demand for strategic insight into longer-term industry trends. We are closely monitoring developments in what is a very dynamic environment. As such, peer studies such as the ABA report, which assess comparative performance on a timely basis, are becoming increasingly relevant."

* ABA reports are produced on a half-yearly basis and cover the reported results of 31 major reinsurers worldwide, with the aim of identifying the latest trends in the P&C reinsurance marketplace. The study comprises 29 publicly-listed holding companies ('the listed ABA') and two US-domiciled subsidiaries of Berkshire Hathaway, namely National Indemnity Company (NICO) and General Reinsurance Corporation (Gen Re). NICO entered into a significant intra-group reinsurance transaction with GEICO Group effective January 1, 2014, which has had a material impact on its reported results. To provide a more meaningful picture of the sector's underlying performance, many of the charts and ratios now focus on the listed ABA.

Industry expert Kevin Sergeant joins leading global international insurance provider to drive commercial business growth and insurer/broker relationships.

Clements Worldwide have announced that industry expert Kevin Sergeant has joined its London operations in the newly-created role of Broking Director – UK and Europe.

Most recently Managing Director at Towergate Sevenoaks, Kevin’s initial focus will include aggressive expansion of Clements’ commercial insurance offering into the UK and European markets.

Additionally, he will drive the development of broker and underwriting relationships for the firm in London. Kevin brings over two decades of experience in insurance and financial services to Clements, having previously held senior management positions at Allianz, Willis and HSBC.

According to Simon Townsend, Managing Director at Clements London, “We are delighted to have someone of Kevin’s experience and calibre on board at Clements. His skills, relationships and industry know-how will benefit our clients, prospects and partners greatly as we continue providing them with our industry-leading international insurance solutions. Kevin’s presence on our team is testament to our ability to attract seasoned industry professionals who are eager to help drive our business here in the UK and throughout the rest of Europe.”

Up to 1.8 million British nationals visit Belgium every year. Most visits are trouble-free.

Take out comprehensive travel and medical insurance before you travel. If you need to contact the emergency services in Belgium call 112.

Theft and pick pocketing is a problem in crowded areas.

Take care of your belongings and passports at all train stations in Brussels. 

UK Private Medical Insurance Company

You may be a frequent flyer business traveler, student, leisure or medical health tourist considering the Expatriate Life.

Perhaps you are already established as a Expatriate living far from home on distant shores. Where ever you are now, understanding UK Private Medical Insurance company requirements is vital to safe, risk free Global travel. Accidents do happen and when you least expect it. Insuring you have the right type of Private Medical Insurance plan from the right private medical insurance company will mean, should anything untoward happen, you will not be faced with a large medical bill, or even worse, insufficient medical care.

Expatriates searching the internet to source, compare and select the best Private Medical Insurance company are now covered by International Private Medical Insurance Magazines Online UK Private Medical Insurance company guide.

Get the lowdown on who's who and which Private Medical Insurance companies you should trust with your life. Since 2009 International Private Medical Insurance Magazine has been providing mission critical news and information about UK Private Medical Insurance companies and providers to individual expatriates, expat groups, expatriate employers and Expatriate Health Insurance brokers and intermediaries.

It is important to fully understand UK Private Medical Insurance requirements before you travel and insure you select the right and most appropriate Private Medical Insurance plan and cover for leisure, business, educational or health travel purposes. Private Medical Insurance companies do come in all shapes and sizes so be sure to do a complete comparison of the Private Medical Insurance company, plan, costs and fine print.

Make your Private Medical Insurance plan and company covers you for costs relating to repatriation, emergency evacuation, medical and non medical transport services by ground ambulance or air ambulance.